2023-11-15 20:17:25
The manufacturer of Oreo cookies and Toblerone chocolates has announced the prices of its products for the first time. I-Wei Huang/IWei – stock.adobe.com
DECRYPTION – The major producing countries are facing a crisis situation, which has consequences throughout the world.
Bad news for chocolate lovers: cocoa and sugar prices continue to rise. Since September 2022, the price of cocoa in New York has increased from almost $2,200 per ton of beans to more than $3,940 on Wednesday. It thus reached its highest level since 1978. Sugar is also on a marked upward slope. It was trading at 27.6 cents per pound on Wednesday, a price multiplied by 2.6 since April 2020.
This price evolution is largely linked to climatic vicissitudes. And in particular the impact of El Niño. The warming of the waters of the South Pacific is disrupting the global climate and deteriorating weather conditions in production areas.
Rising sugar prices
The markets therefore fear an insufficient supply of cocoa. In the two major producing countries, Côte d’Ivoire, which represents 44% of world production, and Ghana (14%), production is expected to be low. According to Commerzbank analyst Carsten Fritsch, the harvest of…
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